Elon Musk has shared an audacious vision for X, the company he leads, declaring it as the future financial center that will handle every facet of people’s money-related affairs. During an all-hands call, Musk disclosed his plans for X, noting that by the end of 2024, X will replace banks, which will revolutionize the way […]

The Lahore Chamber of Commerce and Industry (LCCI) has highlighted the profiteering behavior of banks and problems in the provision of LCs for the import of heavy machinery as two primary problems being confronted by the business community. Finance Minister Miftah Ismail hosted a virtual meeting with a delegation of LCCI at the Finance Division.  […]

The State Bank of Pakistan (SBP) has made it compulsory for all banks and microfinance banks to digitize corporate payments and receipts for corporate customers. For the rapid digitization of the commercial sector, the central bank has been issuing directions from time to time and as an outcome of its constant efforts, digital payments during […]

In order to boost the ease of conducting business and digitalization, the Securities and Exchange Commission of Pakistan (SECP) has rolled out a portal for prompt bank account opening of newly enrolled firms. Since the time of its launch, around 16 banks have registered on the portal, to obtain real-time access to legal documents of […]